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Feb. 11, 2022, 9:15 a.m. EST

Nokia to launch equivalent of up to $342 million in stock repurchases

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By Tomi Kilgore

Shares of Nokia Corp. /zigman2/quotes/207421390/composite NOK -2.31% /zigman2/quotes/203672305/delayed FI:NOKIA +0.46% rose 0.4% in premarket trading Friday, after the Finland-based network infrastructure company said it plans to start buying back up to EUR300 million ($341.8 million) of its stock on Feb. 14 at the earliest. The "first phase" of the company's buyback plan, which is part of a previously announced two-year EUR600 million buyback program, will end by Dec. 22, 2022. "The purpose of the repurchases is to optimize Nokia's capital structure through the reduction of capital," the company said in a statement. The U.S.-listed stock has slipped 1.1% over the past three months through Thursday, while the S&P: 500 /zigman2/quotes/210599714/realtime SPX -0.42% has eased 3.1%.

/zigman2/quotes/207421390/composite
US : U.S.: NYSE
$ 5.08
-0.12 -2.31%
Volume: 25.10M
Aug. 9, 2022 4:00p
P/E Ratio
15.24
Dividend Yield
0.57%
Market Cap
$29.60 billion
Rev. per Employee
N/A
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/zigman2/quotes/203672305/delayed
FI : Finland: Helsinki
5.04
+0.02 +0.46%
Volume: 1.46M
Aug. 10, 2022 1:33p
P/E Ratio
17.03
Dividend Yield
1.59%
Market Cap
€28.97 billion
Rev. per Employee
N/A
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/zigman2/quotes/210599714/realtime
US : S&P US
4,122.47
-17.59 -0.42%
Volume: 2.22B
Aug. 9, 2022 5:13p
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